Cairo – Mubasher: Arab Cotton Ginning Company shifted to consolidated net profits after tax of EGP 208.25 million during fiscal year (FY) ended 30 June 2022, against net losses of EGP 47.46 million in FY20/21.

Revenues of the company reached EGP 2.07 billion during the July-June period of FY21/22, up 63% from EGP 1.27 billion a year earlier, according to a stock exchange filing on Tuesday. 

During FY21/22, Arab Cotton Ginning Company reported standalone net profits after tax of EGP 34.22 million, compared to net profits of EGP 35.73 million a year earlier.

The company’s revenue for the July-June period of FY21/22 soared to EGP 68.78 million from EGP 31.07 million in the corresponding period a year earlier.

In the first nine months (9M) of FY21/22, Arab Cotton Ginning recorded net profits of EGP 74.55 million, against net losses of EGP 22.71 million in the year-ago period.